Market Watch

AUDCAD - This pair is starting to go down, at least to 0.9400 as monthly MACD is already passed to the upper side and STOC is in the overbought area, so this is the chance to sell it again - We are now again holding short positions at 1.00983 and 1.01679 and 1.01972 and 1.02764.

AUDNZD - For a long term trend this pair is for a buy because it has the monthly MACD still on the underside, but STOC is turning up lightly from the oversold area, so we will sell it temporarily whenever we have a chance - Yesterday we closed some of our positions and took a profit of 80 pips. We are now turning still holding some covered short positions at 1.06258 and 1.07488.

EURCAD - This pair has had some repeatedly rebounds from April's low when the weekly MACD started to go under the zero line, so we will get in for a sell whenever it has a rebound from monthly AL - We are now holding short positions at 1.48612.

EURUSD - We shall pay close attention to this pair. In a wider picture it is a buy, when monthly MACD is still on the underside and STOC is raising up near the oversold level, but we will get in sometime and sell it temporarily whenever we have a chance. We will not be in for long, just long enough to grab some profits and get out - Yesterday we closed our long positions and took a profit of 225 pips.

GBPNZD - This pair has its monthly MACD well on the underside and STOC is in the extreme level in the oversold area, therefore we will make a buy whenever there is an opportunity to do so - We are now holding long positions at 1.68664.

NZDCAD - This pair has its monthly MACD high on the upper side and STOC is going to make a cross under in the overbought level, so this is a long term chance to sell it - We are now holding covered short positions at 0.95990 and 0.97745.

NZDUSD - This pair has its monthly MACD reaching up to the zero line and the STOC has come down a bit in the overbought level, so this is the time to go around and sell this pair temporarily - Yesterday we closed our positions at break even to make sure that we will have a better chance to sell or buy this pair at a right moment.

(Charts: Forex Trader)

Disclaimer: This is a personal analysis, not an actual advice, therefore we will not accept any liability for any loss and damage which may arise directly or indirectly from the content of these and future articles.